Technology and growth stocks have been the go-to stocks this year, as the NASDAQ broke above 4,000 on Monday for the first time since September 2000.

But recall that 2000 was also the year the tech sector and NASDAQ collapsed after the index traded above 5,000 in March of that year.

Now, another 25% or so, and the NASDAQ will be at a record-high once again. Years ago, when the NASDAQ was down 75% from its high in 2000, I never thought we would be at 4,000 this soon, but this is the age of technology and the NASDAQ.

The 4,000 level is a milestone, in my view, since the previous moves to 4,000 and 5,000 were unjustified and driven by lofty ambition and major euphoria. This time is different.

We are not seeing the kind of excessive buying now that we did back in late 1999 and 2000. Yes, there’s some froth now, especially in the initial public offering (IPO) market, but I can tell you it’s nowhere near what I saw back then. I’m not saying the NASDAQ and stock market are justified at their current levels; I’m just saying the advance in technology and growth has been steadier now than it was over a decade ago.

Take a look at the long-term chart of the NASDAQ below. Note the record peak in March 2000 when stocks spiked, followed by the subsequent sell-off that was dramatic and destroyed wealth.

As I said, the NASDAQ has been on a steady rise since bottoming out in 2009, following the Great Recession. Notice the upward trend from 2009 to now, as reflected by the upward-sloping trendline. While the advance has been steadier now than it was in 2000, notice the lower trading volume accompanying the advance, as shown by the downward-sloping trendline.

Chart courtesy of www.StockCharts.com

I’m not staying the NASDAQ’s best days are behind us; instead, I’d warn investors to just be careful, as the index is vulnerable to some selling should the broader market begin to adjust.

As many of you know, I continue to favor the technology sector going forward. This area will continue to provide the best buying opportunity as we move into the next few decades.

Simply look at the technological advances around us and the rate of change, which will see many technology companies deliver advanced technologies and returns for investors.

The areas that I continue to like as we move ahead are the mobile, Internet services, and social media spaces. The growth in the near future will continue to be focused on the Internet and mobile sectors.

It is not enough to stay status quo. Failure to recognize trends and innovate will kill companies. Even the major companies of today are vulnerable to changes.

I’d suggest investors continue to play the market leaders in technology. You can also simplify the process and buy exchange-traded funds (ETFs), such as the Technology Select Sector SPDR (NYSE: XLK), which holds major companies like Apple Inc. (NASDAQ: AAPL), Google Inc. (NASDAQ: GOOG), and Microsoft Corporation (NASDAQ: MSFT). (You can’t go wrong with any of these heavyweights.)

Chart courtesy of www.StockCharts.com

So while the NASDAQ just cracked 4,000 and reminded us of its glory days over a decade ago, technology will continue to offer the top opportunities to make money going forward.